Port of Philadelphia development project expected to generate $100M in tax revenue

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Watch the report from Action News at 4 p.m. on May 29, 2018. (WPVI)

Local leaders are celebrating what they call a major milestone at the Port of Philadelphia.

Two large cranes, capable of unloading the world's largest container ships, recently arrived along the Delaware River.

The equipment is expected to make the port more competitive.

Pennsylvania Governor Tom Wolf, Senator Bob Casey, and Mayor Jim Kenney were there Tuesday to highlight the recent investment.

It is part of a larger plan to create jobs.

The port development is slated to continue through 2020, and is projected to generate more than $100 million in additional tax revenue every year.

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